Bitcoin News Today: Binance Coin Surges 35% to $850 ATH Defying Bitcoin Stagnation, Analysts Target $1,187

Binance Coin (BNB) surged past a new all-time high of $850 on July 28, marking a 35% rally over the preceding five weeks despite Bitcoin’s recent stagnation [1]. The exchange token’s performance has drawn attention from analysts, with CryptoQuant founder Joao Wedson suggesting a $1,000 price target for BNB could be "conservative" in the coming month [1]. AMBCrypto echoed this optimism, projecting a potential rise to $1,187 within weeks. The price trajectory defies broader crypto market volatility, as BNB continued to climb even as Bitcoin’s momentum waned over the past ten days [1].

Technical analysis highlights historical patterns in the BNB/ETH pair, which Wedson noted has often aligned with Bitcoin’s local tops or bottoms. Currently trading at 0.25, the pair’s low valuation relative to Bitcoin may indicate further upside potential. Fibonacci retracement levels identified $886, $1,037, and $1,187 as key price targets, while the RSI at 72 signaled strong bullish momentum. However, on-chain metrics like the On-Balance Volume (OBV) have not matched the price highs, raising caution about sustained buying pressure [1].

The altcoin market’s recent surge to $1.54 trillion in capitalization—breaching the 2025 resistance at $1.24 trillion—adds context to BNB’s rally. If the sector repeats historical 200% gains seen in past bull runs, altcoin market cap could theoretically reach $5.1 trillion. While a $2,000 BNB price remains speculative, analysts acknowledge that crypto cycles often exceed expectations. Wedson’s risk-return analysis suggested the current market euphoria is not yet comparable to 2021 peaks, implying room for further growth before cautionary signals emerge [1].

Critically, the path to $2,000 depends on filling fair value gaps between $700 and $850, with the $765–$840 range acting as a strong demand zone. However, the absence of OBV confirmation for recent price highs underscores the need for careful monitoring of volume dynamics. While Wedson and AMBCrypto offer bullish forecasts, these remain speculative, with the latter’s $1,187 target representing an upper-bound estimate. Market participants are advised to balance optimism with technical rigor, particularly given the token’s reliance on broader crypto sentiment and macroeconomic variables [1].

Source: [1] [BNB Coin smashes ATH! Will the $850 level launch price to $2K?] (https://ambcrypto.com/bnb-coin-smashes-ath-will-the-850-level-launch-price-to-2k/)